| Credit Card Industry Booming, Despite Treacherous Stock Market This ...
No, that's not your spouse (or even your accountant) talking. Rather, it's an admonition that may be a useful guide to navigating a treacherous stock market this fall — the time that has historically been less than an auspicious season for stocks … and this one looks particularly dicey. At issue: whether the shutdown in vast swaths of the credit markets will ripple through the rest of the economy. So far, officials from Treasury Secretary Hank Paulson to Fed Chairman Ben Bernanke have assured investors that the mortgage mess bears watching, but it's still pretty well contained. In other words, a few hundred thousand families, or perhaps a few million will lose their homes, but outside of that, the consumer economy will not suffer. That myth is increasingly showing cracks.
Obama's Web site full of specifics
Obama will establish a five-star rating system so that every consumer knows the risk involved in every credit card. He also will establish a Credit Card Bill of Rights to stop credit card companies from exploiting consumerswith unfair practices." "Obama will crack down on fraudulent brokers and lenders." "Obama will strengthen the ability of workers to organize unions." "Barack Obama will raise the minimum wage, index it to inflation and increase the Earned Income Tax Credit to make sure that full-time workers earn a living wage that allows them to raise their families and pay for basic needs." Barack Hussein Obama says "I'm asking you to believe." Well, I do believe. I really do. I believe you are a dangerous socialist who must be stopped.
Curbing the Chaos in the Garage
At some point, our two-car garage morphed into an all-purpose repository for household junk. Amid the tennis gear, soccer balls and old newspapers, it had room for only one car. We clearly needed help. So we called in professional garage organizers to clear the clutter. Garage organizing is big business. Including home workshops -- comprising everything from auto-repair equipment to upright tool chests -- garage gear has become a billion-dollar industry, says Greg Alford, senior partner with Peachtree Consulting Group, an Atlanta-based marketing consulting firm. High-end custom garage-organizing companies have been growing 20%-25% per year, Mr. Alford says. He does, however, expect the growth to flatten a little in 2008, because of the weakening economy. The typical American garage is growing.
The Lynch effect has Autonomy bubbling up
On Friday, the company will update the market and investors are expecting even more good news.
It is the leader in a rapidly growing market offering companies technology to search and archive unstructured data - the "human-friendly" information locked in formats such as e-mails, voicemail, and video footage, rather than the more easily searchable databases of the past.
Last year, Autonomy added Boeing, Shell, Oracle and News Corporation to an already impressive client list. Analysts now rave about the company. Almost half the houses covering it rate the shares a strong buy despite their sky-high multiple of almost 50 times next year's earnings. It was not always thus. Autonomy was one of the poster-children of both the dotcom boom and bust.
Ex-IndyMac exec plans KC-area mortgage branches
A conversation with U.S. Bank Market President Michael Walker [East Bay] Forensic underwriting firm moves to Orlando [Orlando] Silverback rides again with infusion [Raleigh/Durham] Real estate industry economist downplays sub-prime crisis [Buffalo] South Florida's residential woes overshadow federal incentives [South Florida] .
'Gone With Wind' Tops Favorite Film Poll
Hollywood's classic romance Gone with the Wind ranked No.1 among U.S. adults who participated in an online Harris Poll last month. The polling group said it asked 2,279 people from Jan. 15-22 to name their all-time favorite movies. Gone with the Wind topped the list with Star Wars followed close behind at No. 2 and Casablanca snagged the No. 3 spot. .
Wall Street mostly higher as Federal Reserve starts 2-day meeting on ...
NEW YORK — Wall Street advanced sharply Tuesday as the Federal Reserve opened a two-day meeting expected to bring another interest rate cut to revitalize the U.S. economy. The Fed's rate decision is clearly the market's focus this week, and trading has been marked by investors' conjectures about policymakers' thoughts on the weak economy and crunched financial industry. With an announcement not expected until Wednesday afternoon, the market in the meantime digested data on earnings, consumer spending and durable goods. Investors did get some encouragement about the economy after the Commerce Department said orders for big-ticket items rose 5.2 percent in December, the widest jump in five months. In addition, the Conference Board reported consumer confidence fell in January — pretty much as expected.
Kosovo's giant mosh pit
Bangers litter the streets and you just have to watch your step, and indeed your ears. As the night goes on the music policy changes and hip-hop blasts out from nearby the high golden letters spelling out (in English) “Newborn". The crowd is nowhere near so dense here and people are bursting into spontaneous little dances. Of course while it is all rather light-hearted here, not everyone loves the newborn country. In Mitrovica and Belgrade there has been trouble, although buildings, not people, have so far been the targets. Happiest day It seems every second person I talk to says it is the happiest day of their life. I was in Montenegro for their independence celebrations and they were similarly wild but there wasn't the sheer sense of relief and joy.
Ex-library official files suit
The former finance director of Sacramento's Public Library filed suit this week, saying he was wrongfully fired from that position after raising concerns about $650,000 in payments to a library staffer's company. Former finance director Anil Paul also alleges he was fired for refusing to approve directors' taxpayer-funded credit card expenses, including one official's $293 meal at The Palm restaurant in Boston and a $202 spa treatment in Orlando, according to the lawsuit and library documents. "I was concerned about my (accounting) license," said Paul, 59, who lives in Walnut Creek and earned $180,000 annually from the library. "I should not allow anyone to jeopardize my livelihood." .
Lady Luck deserts Devizes
DEVIZES Town were the victims of bad luck as they lost 1-0 to Welton Rovers in the Toolstation league Premier Division at Nursteed Road last night. Welton scored the winner after 20 minutes but Devizes were unhappy after Ryan Trowbridge was elbowed in the lead-up. Adam Giles smacked a free kick against the bar and Daine O'Connor also hit the woodwork with a volley as Devizes sensed it was not to be their night. Devizes assistant boss Steve Hale said: "It was quite a tight game, I wouldn't say either side deserved to win it. "The players that have gone out there have worked hard and given everything. "But injuries and unavailability are really hurting us at the minute. With budget cuts it's really difficult to freshen the squad up." .
Higher Credit Card Rates May Be Lurking in Your Mailbox
You'd think that an economic environment chock-full of interest rate cuts from the Fed would lead credit card issuers to gradually decrease the rates they charge us on our plastic. But no -- many cards have actually been raising their rates recently. Bill Hardekopf of LowCards.com, for example, has noted rates moving in directions other than down at cards from American Express (NYSE: AXP), JPMorgan Chase (NYSE: JPM), and Bank of America (NYSE: BAC). What's going on? Well, there's been a bit of a financial crisis at many banks (you may have heard about it). It's related to their having issued a few regrettable mortgages to risky borrowers. So, perhaps feeling pressured, they're seeking out additional income from the likes of you and me, via the debt that we carry. We don't have to be their suckers, though.
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